Pemex switches on 300 MW cogeneration power plant in Mexico

Petroleos Mexicanos (Pemex) announced it has brought the 300 MW Nuevo Pemex cogeneration plant online in the southeastern state of Tabasco, Mexico, according to the Latin American Herald Tribune. According to Pemex, the facility is the largest of its kind in Mexico.

The $530 million plant had 36.5 percent of its cost financed by a consortium made up of Spain’s Abengoa and GE Energy Financial Services. The rest of the funding came from a syndicated loan granted to the consortium and arranged by Mexican state bank Banobras, according to the report.

The facility is expected to meet the electricity demands of 190 Pemex work centers and save the company $152 million a year.

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